Journal Communications completed its purchase of CW affiliate KWBA Tucson, Ariz. The sellers were Tucson Communications and Cascade Broadcasting Group. Journal already owns ABC affil KGUN in the market.

Sen. Barack Obama's campaign will be among the TV sponsors of NBC Universal's Olympics coverage. In the first significant network TV buy of any presidential candidate in at least 16 years, the Obama campaign has taken a $5 million package of Olympics spots that includes network TV as well as cable ads.

The proposed merger of the Sirius and XM appeared close to final approval Wednesday, with the sole undecided member of the FCC poised to support the deal if the companies settle past rules violations.

Attorney General Michael Mukasey calls a proposed shield law a solution in search of a problem, while advocate Rep. Mike Pence says it's a response to increasing erosion of freedom of the press.

Stocks advanced for the second straight session Wednesday as another decline in oil prices and several upbeat profit reports eased some of Wall Street's concerns about the economy.

Chrysler LLC says it will cut 1,000 salaried jobs worldwide by Sept. 30. It says the layoffs are needed because of the prolonged slump in the U.S. auto industry.